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Brad Keselowski's gradual exit from RFK Racing may extend its impact beyond NASCAR, possibly influencing Fenway Sports Group's (FSG) efforts to acquire an ownership interest in Cadillac's Formula 1 team. According to The Athletic's Madeline Coleman, FSG is one of several parties expressing interest in purchasing a stake in the Cadillac operation from billionaire Mark Walter's TWG Global.
However, a clause within Keselowski's ownership agreement with FSG and Roush Enterprises could complicate the potential transaction. Two racing industry sources familiar with the agreement told The Athletic that Keselowski and FSG cannot pursue motorsports ventures outside NASCAR without the other's permission. As of Saturday morning, November 14, Keselowski had not given FSG permission to pursue an investment in Cadillac.
The sources clarified that holding discussions would not violate the agreement. However, FSG signing a purchase agreement for a stake in the F1 team without Keselowski's approval would.
Keselowski's RFK Exit Could Affect FSG's Cadillac Pursuit
Keselowski joined Roush Fenway Racing as a driver and co-owner in 2022, acquiring a 20% stake in the organization. The team subsequently became RFK Racing, with Keselowski playing a significant role in its revival. His departure as a driver was confirmed in September, with the veteran set to explore other opportunities for the 2027 season. However, his ownership stake has remained a separate issue.
Keselowski and RFK Racing have reached a verbal agreement to unwind his 20% ownership stake, but the arrangement has not yet been signed and is therefore not binding. According to The Athletic, the clause restricting FSG's motorsports investments outside NASCAR remains in effect until the ownership stake is fully unwound.
That leaves FSG's potential Cadillac investment in a complicated position. Even though the group can continue discussions with TWG Global, completing a purchase agreement without Keselowski's approval could violate its existing arrangement with the NASCAR driver. The Athletic's sources also indicated that the clause would cease to apply once Keselowski's ownership stake is unwound.
Fenway Sports Group Among Bidders for Cadillac F1 Stake
FSG, led by John Henry, owns major sports properties including the Boston Red Sox and Liverpool FC. Its involvement in NASCAR dates back to its partnership with Jack Roush, which eventually led to the formation of RFK Racing. The group is now exploring an opportunity to expand its motorsports portfolio into Formula 1.
Walter's TWG Global is reportedly considering selling a portion of its stake in Cadillac, which entered the championship in 2026 alongside General Motors. According to a previous report, Walter is seeking a valuation of at least $3 billion for the F1 operation. FSG is among several potential buyers, and there is no guarantee that a deal will materialize.
The potential transaction would give FSG an opportunity to enter Formula 1 while retaining its existing NASCAR interests. However, the unresolved ownership arrangement with Keselowski could delay its plans. For now, Keselowski's approval or the completion of his RFK Racing ownership exit appears to be an important factor in determining how quickly FSG can pursue the Cadillac investment.
More NASCAR News: NASCAR Driver's Father Files Petition Against IRS Over $750,000 Tax Bill; Denny Hamlin Delivers Blunt Verdict on NASCAR's Biggest Problem: 'It's Just Falling Behind Others'; Actor-Turned-NASCAR Driver Frankie Muniz Issues Medical Update After Daytona Crash; Kurt Busch Issues Emotional Message as Brother Kyle Posthumously Wins NASCAR Cup Most Popular Driver Award. This story was originally published by Athlon on Nov 15, 2026, where it first appeared in the Racing section.
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Originally reported by athlonsports.